The Hub Power Company is Finalising the Issuance of PKR 6 Billion in Sukuk
October 20, 2020
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Email The Hub Power Company (Hubco), Pakistan’s Independent Power Producer, has announced that it is finalising the issuance of an Islamic Shariah-compliant Sukuk amounting to PKR 6 billion, according to local media reports. The five-year tenure Sukuk, which will be issued through Hubco’s wholly-owned subsidiary Hub Power Holdings Limited, will be made available for subscription by financial institutions, investment companies and other eligible institutions.
Proceeds of the proposed Sukuk will be used to meet ongoing capital requirements of Hubco. Meezan Bank Limited has been appointed as Shariah advisor of the proposed Sukuk, while Arif Habib Limited will act as the arranger, local media reported.
